The BUSKLAW Newsletter

  (not the real bowl, but can you tell the difference?) Buys a porcelain floral bowl for 35 bucks. As CNN reported  here , the man then decides to have the bowl appraised, suspecting that it might be worth something. Turns out, the bowl was commissioned by China's imperial court during the 15th Century and is worth up to $500,000 when Sotheby's auctions it off this month.  You are the seller's attorney, what do you do (besides getting your fee upfront, you'll see why). You check the well-established case law on what constitutes a unilateral mistake of fact. Based on the known facts of this case, you have bad news for your client.   Here, the seller mistakenly underpriced the bowl, a unilateral mistake. Generally, courts are reluctant to void a contract when only one party is mistaken. But you forge ahead anyway and sue the buyer (before the auction) to rescind - or set aside - the contract. You tell the court that your client will gladly return the $35 purchase price i